Confidential invoice discounting
This is a completely private facility that allows you the benefits of releasing cash from unpaid invoices without your customers knowing. However, you need to prove to the discounting provider that you are low risk with evidence of regular customer payments and an established credit control facility in place. This can be difficult if you are a new business.
This is a more open way to get money from your invoices. Your customers pay the finance provider, not you directly. This means the finance company talks to your customers to collect outstanding invoices and they know about the finance facility being in place.
So, why would you choose CHOCCS/over other options like invoice factoring or confidential invoice discounting?
Well, it’s useful if you’re a newer business or you don’t want the finance company to talk to your customers. It allows you to remain in full contact with your customers even though they ultimately pay to finance provider rather than you directly.